Alerts
16January2015
Personal data: the new localization requirements are being introduced as early as on 1 September 2015
Pepeliaev Group advises that new requirements for the personal data of Russian nationals to be kept in electronic form in Russia are being introduced as early as on 1 September 2015.
15January2015
Important amendments have been made to the Law on Circulation of Medicines
Pepeliaev Group advises that on 22 December 2014 the Russian President signed Law No. 429-FZ “On amending Federal Law 'On Circulation of Medicines'” (the “Law”). On 23 December 2014 this Law was published on the official online legal information portal (www.pravo.gov.ru).
24December2014
Intra-group expenses
Pepeliaev Group advises that in view of new case law, any expenses of a Russian company incurred to make payments to a foreign company within one international group of companies may not be treated as deductible for profit tax purposes.
03December2014
Russian law on 'Tax repatriation'
Pepeliaev Group advises that the Russian law on “tax repatriation”1 has been signed and will come into force from 2015. This new law may have the following implications:
- control by Russian persons over foreign structures, including non-corporate ones, will have to be disclosed to the Russian tax authorities; and
- profits received by foreign structures managed or controlled out of Russia will be taxed in Russia.
26September2014
Personal data: new localization requirements may be introduced as early as on 1 January 2015
Pepeliaev Group advises that new requirements for the Russian Federation citizens' personal data to be kept in electronic form in Russia may be introduced as early as on 1 January 2015.
15September2014
Personal data: new data localization requirements and enhanced state control
Pepeliaev Group advises that from 1 September 2016 personal data of the Russian Federation citizens may be kept in electronic form only in Russia. It is probable that this deadline will be shifted to an earlier date, i.e. 1 January 2015.
26August2014
Easing retaliatory sanctions: legal implications
Amendments to ease the restrictions have been made to the list of foods banned from being imported into the Russian Federation. This may be treated as a circumstance that stops a force-majeure regime from applying and that restores the obligation of counterparties to perform theirt contractual obligations.
15August2014
Changes in the rules for admitting foreign securities to the Russian financial markets
Pepeliaev Group advises you that the Russian Federal Law No. 218-FZ “On Amending Certain Legislative Acts of the Russian Federation” came into effect on August 2, 2014. The Law simplifies the procedure for foreign securities to be admitted to the Russian financial markets.
15August2014
Legal implications of Russia imposing retaliatory sanctions
Pepeliaev Group advises that Russia's imposing retaliatory sanctions may be treated as a force-majeure event. Currency risks are possible.
11August2014
Criteria for disputes considered by state commercial courts to be regarded as complex
Law firm Pepeliaev Group draws your attention to recommendations of the Presidium of the Russian Supreme State Commercial ('Arbitration') Court (the 'SSCC') with regard to applying the criteria for disputes being considered by state commercial ('arbitration') courts to be regarded as complex. Using these recommendations may assist in the development of the practice for recovering legal expenses.
29July2014
Сhanges to the regulation of operations on foreign accounts (deposits) of Russian residents
Pepeliaev Group advises that Federal Law No. 218-FZ dated 21 July 2014 has expanded the list of cases when funds may be credited to foreign accounts of Russian residents and has provided for an obligation on the part of individuals who are Russian residents to provide reports to the tax authority concerning operations on foreign accounts.
22July2014
New sanctions which affect businesses’ rights and interests in Russia
On 16 July 2014 the Office of Foreign Assets Control (OFAC) of the United States Department of the Treasury extended its Specially Designated Nationals List (the “SDN List”) with respect to the Ukrainian crisis. Additions have been made both to the general and to the sectoral parts.